Cooling Tower Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application, Product Type
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Introduction
Cooling towers are heat rejection devices that dissipate waste heat from industrial processes, power generation, and HVAC systems into the atmosphere via water evaporation. They are vital in oil and chemical refining, metallurgy, nuclear power, commercial buildings, and data centers, with closed-circuit and open-loop types addressing diverse needs. The market is driven by rising power demand, particularly from data centers and nuclear power, with global data volumes expected to reach yottabyte levels by 2030 and AI computing power surging to 864 ZFLOPS. In China, the “East Data West Computing” initiative boosts data center growth, while nuclear capacity reached 113.13 GW by 2024. In the US, AI infrastructure investments like the “Stargate” project (USD 500 billion by 2030) and nuclear revival plans underscore demand. The global cooling tower market is estimated at USD 1.5-2.5 billion in 2025, with a projected CAGR of 4.0%-7.0% from 2025 to 2030, reflecting robust industrial and tech-driven growth.
Market Size and Growth Forecast
Valued at USD 1.5-2.5 billion in 2025, the cooling tower market is expected to grow at a CAGR of 4.0%-7.0% through 2030. This growth is fueled by data center expansion, nuclear power resurgence, and industrial needs, balanced by regional variations and efficiency challenges.
Regional Analysis
Asia Pacific: Growth is estimated at 5.0%-7.5%, with China leading due to data centers and nuclear projects. India follows, with trends in industrial cooling.
North America: The market grows at 4.0%-6.5%, with the US driven by AI and nuclear investments.
Europe: Growth is projected at 3.0%-5.0%, with France and the UK focusing on nuclear and commercial cooling.
Rest of the World: Growth is 4.0%-6.0%, with Brazil notable for industrial applications.
Application Analysis
Oil and Chemical Refining: Growing at 3.5%-5.5%, this segment supports process cooling, with trends in efficiency.
Metallurgy: With a growth rate of 3.0%-5.0%, it aids metal processing, driven by industrial output.
Nuclear Power & Electricity: Growing at 5.0%-7.5%, it’s fueled by nuclear revival, with trends in capacity expansion.
Public & Commercial Buildings: Growth is 3.0%-5.0%, supporting HVAC, with trends in green buildings.
Data Centers: Growing at 6.0%-8.0%, it’s driven by AI and cloud computing, with rapid expansion trends.
Others: Including agriculture, this grows at 2.5%-4.5%, with niche demand.
Type Analysis
Closed Circuit Cooling Tower: Growing at 4.5%-6.5%, it offers water savings, with trends in sustainable cooling.
Open Loop Cooling Tower: With a growth rate of 3.5%-6.0%, it’s cost-effective, trending in large-scale applications.
Key Market Players
SPX: In the US, SPX provides durable cooling towers for industrial and power use.
Baltimore Aircoil Company (BAC): In the US, BAC focuses on efficient cooling solutions.
Evapco: In the US, Evapco targets diverse applications with innovative designs.
Nihon Spindle Manufacturing Co. Ltd.: In Japan, it serves industrial cooling needs.
LiangChi: In China, it provides cost-effective towers for regional markets.
Jiangsu Seagull Cooling Tower Co. Ltd.: In China, it focuses on industrial and power applications.
Shanghai Baofeng Machinery Manufacturing Co. Ltd.: In China, it caters to local cooling demands.
Guangdong Laxun Technology: In China, it targets commercial and industrial uses.
Hunan Yuanheng Technology: In China, it offers scalable cooling solutions.
Porter’s Five Forces Analysis
●Threat of New Entrants: Moderate, due to capital and technical barriers.
●Threat of Substitutes: Moderate, with alternative cooling systems competing, but towers’ scalability sustains demand.
●Bargaining Power of Buyers: Moderate, with large clients negotiating, but specialized needs limit leverage.
●Bargaining Power of Suppliers: Moderate, with component supply concentration.
●Industry Rivalry: High, driven by innovation and cost competition.
Market Opportunities and Challenges
Opportunities
●Data center boom from AI and cloud computing drives demand.
●Nuclear power resurgence globally boosts cooling needs.
●Industrial growth in Asia Pacific offers expansion potential.
Challenges
●High water usage raises environmental concerns.
●Competition from dry cooling systems pressures market share.
●Regulatory shifts toward sustainability increase compliance costs.
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Cooling Tower Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Historical and Forecast Cooling Tower Market in North America (2020-2030)
8.1 Cooling Tower Market Size
8.2 Cooling Tower Market by End Use
8.3 Competition by Players/Suppliers
8.4 Cooling Tower Market Size by Type
8.5 Key Countries Analysis
8.5.1 United States
8.5.2 Canada
8.5.3 Mexico
Chapter 9 Historical and Forecast Cooling Tower Market in South America (2020-2030)
9.1 Cooling Tower Market Size
9.2 Cooling Tower Market by End Use
9.3 Competition by Players/Suppliers
9.4 Cooling Tower Market Size by Type
9.5 Key Countries Analysis
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Chile
9.5.4 Peru
Chapter 10 Historical and Forecast Cooling Tower Market in Asia & Pacific (2020-2030)
10.1 Cooling Tower Market Size
10.2 Cooling Tower Market by End Use
10.3 Competition by Players/Suppliers
10.4 Cooling Tower Market Size by Type
10.5 Key Countries Analysis
10.5.1 China
10.5.2 India
10.5.3 Japan
10.5.4 South Korea
10.5.5 Southest Asia
10.5.6 Australia
Chapter 11 Historical and Forecast Cooling Tower Market in Europe (2020-2030)
11.1 Cooling Tower Market Size
11.2 Cooling Tower Market by End Use
11.3 Competition by Players/Suppliers
11.4 Cooling Tower Market Size by Type
11.5 Key Countries Analysis
11.5.1 Germany
11.5.2 France
11.5.3 United Kingdom
11.5.4 Italy
11.5.5 Spain
11.5.6 Belgium
11.5.7 Netherlands
11.5.8 Austria
11.5.9 Poland
11.5.10 Russia
Chapter 12 Historical and Forecast Cooling Tower Market in MEA (2020-2030)
12.1 Cooling Tower Market Size
12.2 Cooling Tower Market by End Use
12.3 Competition by Players/Suppliers
12.4 Cooling Tower Market Size by Type
12.5 Key Countries Analysis
12.5.1 Egypt
12.5.2 Israel
12.5.3 South Africa
12.5.4 Gulf Cooperation Council Countries
12.5.5 Turkey
Chapter 13 Summary For Global Cooling Tower Market (2020-2025)
13.1 Cooling Tower Market Size
13.2 Cooling Tower Market by End Use
13.3 Competition by Players/Suppliers
13.4 Cooling Tower Market Size by Type
Chapter 14 Global Cooling Tower Market Forecast (2025-2030)
14.1 Cooling Tower Market Size Forecast
14.2 Cooling Tower Application Forecast
14.3 Competition by Players/Suppliers
14.4 Cooling Tower Type Forecast
Chapter 15 Analysis of Global Key Vendors
15.1 SPX
15.1.1 Company Profile
15.1.2 Main Business and Cooling Tower Information
15.1.3 SWOT Analysis of SPX
15.1.4 SPX Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.2 Baltimore Aircoil Company (BAC)
15.2.1 Company Profile
15.2.2 Main Business and Cooling Tower Information
15.2.3 SWOT Analysis of Baltimore Aircoil Company (BAC)
15.2.4 Baltimore Aircoil Company (BAC) Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.3 Evapco
15.3.1 Company Profile
15.3.2 Main Business and Cooling Tower Information
15.3.3 SWOT Analysis of Evapco
15.3.4 Evapco Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.4 Nihon Spindle Manufacturing Co. Ltd.
15.4.1 Company Profile
15.4.2 Main Business and Cooling Tower Information
15.4.3 SWOT Analysis of Nihon Spindle Manufacturing Co. Ltd.
15.4.4 Nihon Spindle Manufacturing Co. Ltd. Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.5 LiangChi
15.5.1 Company Profile
15.5.2 Main Business and Cooling Tower Information
15.5.3 SWOT Analysis of LiangChi
15.5.4 LiangChi Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.6 Jiangsu Seagull Cooling Tower Co. Ltd.
15.6.1 Company Profile
15.6.2 Main Business and Cooling Tower Information
15.6.3 SWOT Analysis of Jiangsu Seagull Cooling Tower Co. Ltd.
15.6.4 Jiangsu Seagull Cooling Tower Co. Ltd. Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.7 Shanghai Baofeng Machinery Manufacturing Co. Ltd.
15.7.1 Company Profile
15.7.2 Main Business and Cooling Tower Information
15.7.3 SWOT Analysis of Shanghai Baofeng Machinery Manufacturing Co. Ltd.
15.7.4 Shanghai Baofeng Machinery Manufacturing Co. Ltd. Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.8 Guangdong Laxun Technology
15.8.1 Company Profile
15.8.2 Main Business and Cooling Tower Information
15.8.3 SWOT Analysis of Guangdong Laxun Technology
15.8.4 Guangdong Laxun Technology Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
15.9 Hunan Yuanheng Technology
15.9.1 Company Profile
15.9.2 Main Business and Cooling Tower Information
15.9.3 SWOT Analysis of Hunan Yuanheng Technology
15.9.4 Hunan Yuanheng Technology Cooling Tower Sales, Revenue, Price and Gross Margin (2020-2025)
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Table Research Scope Of Cooling Tower Report
Table Data Sources Of Cooling Tower Report
Table Major Assumptions Of Cooling Tower Report
Table Cooling Tower Classification
Table Cooling Tower Applications
Table Drivers Of Cooling Tower Market
Table Restraints Of Cooling Tower Market
Table Opportunities Of Cooling Tower Market
Table Threats Of Cooling Tower Market
Table Raw Materials Suppliers
Table Different Production Methods Of Cooling Tower
Table Cost Structure Analysis Of Cooling Tower
Table Key End Users
Table Latest News Of Cooling Tower Market
Table Merger And Acquisition
Table Planned/Future Project Of Cooling Tower Market
Table Policy Of Cooling Tower Market
Table 2020-2030 North America Cooling Tower Market Size
Table 2020-2030 North America Cooling Tower Market Size By Application
Table 2020-2025 North America Cooling Tower Key Players Revenue
Table 2020-2025 North America Cooling Tower Key Players Market Share
Table 2020-2030 North America Cooling Tower Market Size By Type
Table 2020-2030 United States Cooling Tower Market Size
Table 2020-2030 Canada Cooling Tower Market Size
Table 2020-2030 Mexico Cooling Tower Market Size
Table 2020-2030 South America Cooling Tower Market Size
Table 2020-2030 South America Cooling Tower Market Size By Application
Table 2020-2025 South America Cooling Tower Key Players Revenue
Table 2020-2025 South America Cooling Tower Key Players Market Share
Table 2020-2030 South America Cooling Tower Market Size By Type
Table 2020-2030 Brazil Cooling Tower Market Size
Table 2020-2030 Argentina Cooling Tower Market Size
Table 2020-2030 Chile Cooling Tower Market Size
Table 2020-2030 Peru Cooling Tower Market Size
Table 2020-2030 Asia & Pacific Cooling Tower Market Size
Table 2020-2030 Asia & Pacific Cooling Tower Market Size By Application
Table 2020-2025 Asia & Pacific Cooling Tower Key Players Revenue
Table 2020-2025 Asia & Pacific Cooling Tower Key Players Market Share
Table 2020-2030 Asia & Pacific Cooling Tower Market Size By Type
Table 2020-2030 China Cooling Tower Market Size
Table 2020-2030 India Cooling Tower Market Size
Table 2020-2030 Japan Cooling Tower Market Size
Table 2020-2030 South Korea Cooling Tower Market Size
Table 2020-2030 Southeast Asia Cooling Tower Market Size
Table 2020-2030 Australia Cooling Tower Market Size
Table 2020-2030 Europe Cooling Tower Market Size
Table 2020-2030 Europe Cooling Tower Market Size By Application
Table 2020-2025 Europe Cooling Tower Key Players Revenue
Table 2020-2025 Europe Cooling Tower Key Players Market Share
Table 2020-2030 Europe Cooling Tower Market Size By Type
Table 2020-2030 Germany Cooling Tower Market Size
Table 2020-2030 France Cooling Tower Market Size
Table 2020-2030 United Kingdom Cooling Tower Market Size
Table 2020-2030 Italy Cooling Tower Market Size
Table 2020-2030 Spain Cooling Tower Market Size
Table 2020-2030 Belgium Cooling Tower Market Size
Table 2020-2030 Netherlands Cooling Tower Market Size
Table 2020-2030 Austria Cooling Tower Market Size
Table 2020-2030 Poland Cooling Tower Market Size
Table 2020-2030 Russia Cooling Tower Market Size
Table 2020-2030 Mea Cooling Tower Market Size
Table 2020-2030 Mea Cooling Tower Market Size By Application
Table 2020-2025 Mea Cooling Tower Key Players Revenue
Table 2020-2025 Mea Cooling Tower Key Players Market Share
Table 2020-2030 Mea Cooling Tower Market Size By Type
Table 2020-2030 Egypt Cooling Tower Market Size
Table 2020-2030 Israel Cooling Tower Market Size
Table 2020-2030 South Africa Cooling Tower Market Size
Table 2020-2030 Gulf Cooperation Council Countries Cooling Tower Market Size
Table 2020-2030 Turkey Cooling Tower Market Size
Table 2020-2025 Global Cooling Tower Market Size By Region
Table 2020-2025 Global Cooling Tower Market Size Share By Region
Table 2020-2025 Global Cooling Tower Market Size By Application
Table 2020-2025 Global Cooling Tower Market Share By Application
Table 2020-2025 Global Cooling Tower Key Vendors Revenue
Table 2020-2025 Global Cooling Tower Key Vendors Market Share
Table 2020-2025 Global Cooling Tower Market Size By Type
Table 2020-2025 Global Cooling Tower Market Share By Type
Table 2025-2030 Global Cooling Tower Market Size By Region
Table 2025-2030 Global Cooling Tower Market Size Share By Region
Table 2025-2030 Global Cooling Tower Market Size By Application
Table 2025-2030 Global Cooling Tower Market Share By Application
Table 2025-2030 Global Cooling Tower Key Vendors Revenue
Table 2025-2030 Global Cooling Tower Key Vendors Market Share
Table 2025-2030 Global Cooling Tower Market Size By Type
Table 2025-2030 Cooling Tower Global Market Share By Type
Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Cooling Tower Picture
Figure 2020-2030 North America Cooling Tower Market Size And Cagr
Figure 2020-2030 South America Cooling Tower Market Size And Cagr
Figure 2020-2030 Asia & Pacific Cooling Tower Market Size And Cagr
Figure 2020-2030 Europe Cooling Tower Market Size And Cagr
Figure 2020-2030 Mea Cooling Tower Market Size And Cagr
Figure 2020-2025 Global Cooling Tower Market Size And Growth Rate
Figure 2025-2030 Global Cooling Tower Market Size And Growth Rate
Research Methodology
- Market Estimated Methodology:
Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.
1)Top-down & Bottom-up Approach
Top-down approach uses a general market size figure and determines the percentage that the objective market represents.
Bottom-up approach size the objective market by collecting the sub-segment information.
2)Supply & Demand Approach
Supply approach is based on assessments of the size of each competitor supplying the objective market.
Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.
- Forecasting Methodology
- Numerous factors impacting the market trend are considered for forecast model:
- New technology and application in the future;
- New project planned/under contraction;
- Global and regional underlying economic growth;
- Threatens of substitute products;
- Industry expert opinion;
- Policy and Society implication.
- Analysis Tools
1)PEST Analysis
PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.
- Benefits of a PEST analysis:
- It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
- It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
- It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
- It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.
2)Porter’s Five Force Model Analysis
The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.
- Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
- Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
- Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
- Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
- Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.
3)Value Chain Analysis
Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.
4)SWOT Analysis
SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.
- Strengths describe what the player excels at and separates it from the competition
- Weaknesses stop the player from performing at its optimum level.
- Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
- Threats refer to factors that have the potential to harm the player.
- Data Sources
Primary Sources | Secondary Sources |
---|---|
Face to face/Phone Interviews with market participants, such as: Manufactures; Distributors; End-users; Experts. Online Survey |
Government/International Organization Data: Annual Report/Presentation/Fact Book Internet Source Information Industry Association Data Free/Purchased Database Market Research Report Book/Journal/News |